Foreign National Loans With Fast and Hassle-Free Funding
Foreign National Loan Program By LendSure
The Foreign National Program by LendSure is tailored to the unique challenges foreign nationals have funding loans. LendSure’s team of highly experienced professionals are experts in navigating foreign national credit and asset verification issues, so loans fund on time and with a minimum of hassle.
- Income verification letter from employer or CPA accepted
- No tax returns required
- Foreign credit report allowed
- Highly competitive rates
- Unsurpassed funding times
- LTVs up to 75%
- Only 30 days’ sourcing and seasoning of assets for LTVs up to 50%
- Various Visa types accepted
Foreign National Program Guidelines
A non-US citizen authorized to be in the US on a temporary basis.
Visas: B-1,B-2, F-1 (subject to senior mgmt approval) H-2, H-3, I, J-1, J-2, O-2, P1, P2. Visa must not be expired.
Verification of earnings past 2 years
Minimum FICO: 620
Mortgage DQ History: 0x30x24
Credit Event Seasoning: Bankruptcy, Foreclosure, Short Sale, Loan Modification: 36 months.
Credit History: 3 active tradelines, 2 year history
Second or Non-Owner Occupied. Certification of intent not to occupy is required.
Mortgage DQ History: 0x30x24, unless ≤ 50% LTV
Credit History: 3 open tradelines. 2 year history no lates
Max LTV: 70%
Maximum Cash Out
$500,000 for ≤ 60% LTV
$250,000 for ≥ 60% LTV
$100,000 for > 65% LTV
6 months PITI. Foreign assets can be used with 60 day seasoning.
Sourced and Seasoned 60 days in financial institution
$1,000,000 for maximum 60% LTV
$750,000 for maximum 75% LTV
Prepay Penalty (Investor only)
24 months Prepay
30-Year Amortized & Term – 5/1 or 7/1 Hybrid ARM or 30-Yr Fixed
All Loans require impounding for Taxes & Insurance
Index & Adjustment Caps
Margin: 6.95% Index: 1-Year LIBOR Floor: Start Rate
3.0% Initial Change Cap / 2.0% Annual Cap / 6.0% Life Cap
Higher of Note Rate or Fully Indexed Rate
SFR / Condos / PUD / Townhome / 2-4 Unit.
No Texas properties > 10 acres.
Case by case basis